Mining Firms Sue Societe Generale Bank

MANHATTAN (CN) – Three Indonesian mining firms and their U.S. holding company claim Société Générale has been illegally trading in minerals from their mines, whose output is valued at $6.6 billion.

Gideon Minerals USA claims its lawyers informed the French bank that Société Générale had no right to trade in the output of the Minahasa Raya and Batu Hijau mines, but that the bank blew them off, and has refused to produce documents for the plaintiffs or for a U.S. congressional inquiry led by Rep. Edolphus Towns. See complaint.